Chuck Limited has gathered the following information: July 31, cash balance $39,000 Dividends to be paid in August $7,200 Budgeted cash spending in August on operating expenses $45,960 Depreciation expense for August $7,800 Expected cash collections in August $91,380 Budgeted cash payments for Merchandise purchases in August $73,140 Equipment to be purchased with cash in August $33,600 Chuck desires to keep a minimum cash balance of $10,000. Required: Prepare a cash budget for August. Assume that Chuck has the ability to borrow the necessary funds to maintain its desired cash balance, if required